Flexible electronics market set to pass $17.2bn by 2024
A research report from Nester has highlighted the growth and potential of the global flexible electronics market, which is being driven by the advancements in the technology of electronic devices.
‘Global Flexible Electronics Market Outlook 2024’ states that the global Flexible Electronics market is segmented into component types. Among these segments, displays are expected to showcase a significant growth in the near future on account of the growing adoption of energy efficient and durable flexible electronic devices in various corporate and healthcare sectors.
The flexible electronics market is expected to reach around $17.2bn by 2024 and the market is expected to flourish at a CAGR of 19.7% over the forecast period 2017-2024.
The North America region is expected to account for the largest share in terms of revenue in near future on the back of introduction of advanced low cost flexible electronic devices such as smart watches, eBooks, smart glasses and rising adoption of energy efficient consumer goods.
The Asia-Pacific region is expected to be the second largest share contributor in terms of revenue across the globe followed by Europe over the forecast period owing to the presence of emerging nations and rising personal disposable income across the regions.
A rise in technological advancements, increasing adoption of advanced and energy efficient electronic devices, rising popularity of flexible electronics, availability of numerous flexible electronics according to the requirements of users, and enhancement in user experience are some of the factors which are expected to pave the market of flexible electronics in near future.
Growing demand in various sectors
Factors such as rapid growth in urbanisation in growing economies, rise in technological advancements and the emergence of the automotive and healthcare sectors across the globe, high-end display and lightening technology is being rapidly adopted in order to save energy and update devices.
However, presence of stringent regulations regarding the manufacturing of flexible electronics, lack of awareness in slowing economies and high cost of flexible electronics will likely hinder the growth of flexible electronics market over the forecast period.
The report provides a detailed overview of the global flexible electronics market in terms of market segmentation by component and application type. Furthermore, for in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The report also provides the existing competitive scenario of some of the service providers of the flexible electronics market which includes company profiling of LG Corporation, Sam sung Electronics and Solar Frontier, etc. The profiling offers key information of the companies which encompasses business overview, products and services, key financial and recent news and developments.
On the whole, the report depicts a detailed overview of flexible electronics and will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stake holders to align their market centric strategies according to the ongoing and expected trends in the future.